Friday, January 5, 2007

pay increment or inflation adjustment?

Well this thing had been bugging me for some time. I had pay increments, so do everyone everywhere. I had one recently and was of course feeling much better, who is not happy? Then 1 week later, i recieved a letter from the bank which i got my home loan from.

"Dear Mr. Tan, With effect from blah blah blah, your bank loan interest rates will increase from blah blah blah to blah blah blah. Thank you for banking with us"

Well something like that. Anyway, the bank loan is financed by CPF, so most of you will think that i am not paying hard cash, so no problem. But i still need to earn more money so that i will have more $$$ inside my CPF account rite?
Then the following week after this wonderful news, GST is slated to increase from 5% to 7%. Whao... double whammy... Plans are also underway to increase public transport pricing and am sure whatever the government can increase. So i come to the point of thinking that, any pay increments are actually to help in inflation adjustments in the future. It's like u are earning more, but actually not earning more in the end. U are actually back to square one. But i do pity those ppl who actually have $50 pay increments, which is actually quite common for company to pay. Sigh

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